Concurrent Investment Advisors LLC Has $1.14 Million Stock Holdings in Lam Research Corporation (NASDAQ:LRCX)

Concurrent Investment Advisors LLC boosted its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 53.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,729 shares of the semiconductor company's stock after purchasing an additional 5,448 shares during the period. Concurrent Investment Advisors LLC's holdings in Lam Research were worth $1,144,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Fairway Wealth LLC raised its position in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 306 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Lam Research in the first quarter valued at about $26,000. West Paces Advisors Inc. acquired a new stake in shares of Lam Research in the fourth quarter valued at about $27,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Lam Research in the fourth quarter valued at about $27,000. Finally, Avalon Trust Co raised its position in shares of Lam Research by 791.3% in the fourth quarter. Avalon Trust Co now owns 410 shares of the semiconductor company's stock valued at $30,000 after buying an additional 364 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

LRCX has been the topic of a number of research analyst reports. Needham & Company LLC cut their price objective on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Evercore ISI raised their target price on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. TD Securities lowered their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Citigroup restated a "buy" rating and set a $108.00 target price (up from $87.00) on shares of Lam Research in a research report on Monday, July 7th. Finally, Argus upgraded shares of Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Lam Research has a consensus rating of "Moderate Buy" and a consensus price target of $97.48.

Lam Research Stock Up 0.7%

Shares of LRCX traded up $0.67 during trading hours on Friday, hitting $101.73. 6,202,556 shares of the company were exchanged, compared to its average volume of 12,344,380. The firm's 50 day moving average is $88.50 and its 200-day moving average is $79.87. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $108.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. The company has a market cap of $130.12 billion, a PE ratio of 28.35, a PEG ratio of 1.44 and a beta of 1.68.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the company posted $7.79 earnings per share. The firm's revenue for the quarter was up 24.4% on a year-over-year basis. On average, equities research analysts forecast that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.90%. Lam Research's dividend payout ratio is currently 25.63%.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.